The New York Gaming Commission reports a surge in sports betting revenue in the state’s commercial gaming properties for the month of May. The total amount of revenue from sports wagering in the four casinos has amounted to over US$1,600,000 for the thirty-day period, this is a significant improvement with 23.1% better than April’s results.
The state is on its road to recovery from the 2020 unprecedented situation, as the commercial casinos continue to gradually improve their financial results this year. The gaming properties endured a tough spell since the occurrence of the dangerous virus, since they were closed down in May 2020, and reopened in September 2020, and had to operate in a reduced capacity until recently.
The state’s four commercial gaming venues will continue to improve in fiscal numbers in 2021 as the vaccination process goes on schedule. The New York State Gaming Commission released information that for May 2021, the four casinos managed to accumulate a total of US$1.6 million in retail sports betting revenue. This is a 23.1% increase in comparison to the April results when the properties generated US$1.3 million.
The biggest amount of revenue generated in May was reported at Rush Street’s Rivers Casino and Resort Schenectady. The commercial venue managed to accumulate US$641,102 in total sports wagering revenue. At second place come del Lago Resort and Casino, as the Waterloo-based facility managed to generate slightly less with US$555,855 via its DraftKings sportsbook.
Third, on the commission’s report of sports betting revenue is Resorts Worlds Catskills with a total of US$307,607 in sports betting income for the month of May. This is definitely an improvement on its April recorded US$7,747 loss. Then comes Tioga Downs Casino, which is based in Fingerlakes, and operates a FanDuel sportsbook with US$85,550 in revenue.
So far for the new fiscal year of 2021-2022 that started at the beginning of April, the New York Gaming Commission reported a total of US$2.9 million in sports betting revenue for April and May. However, the commission reminds that these financial statistics do not include the state’s tribal casino properties and revenue is only from the commercial venues and their retail sportsbooks.
Returning to Full Capacity
This week Gov. Cuomo announced that some of the restrictions on indoor gatherings will be lifted. Following the statement, Rivers Casino and Resort Schenectady revealed that the property will be now operating in full capacity. Vaccinated individuals will not be required to wear masks, as it becomes optional. Additionally, plexiglass barriers have been uninstalled from the premises, ergo social distancing rules are also thing of the past.
Recently Senator Joseph Addabbo has given his prediction on mobile sports betting, as the gamin expansion was officially included in the state’s budget plans. The assemblyman is optimistic that the platform can go live before the end of this year as the gaming commission is on schedule to release a request for platform provider slots by July 1. Then the commission must decide on two providers who will be vital for the legislation’s future.
Source: “New York sports betting revenue reaches $1.6m in May”, iGB North America, June 17, 2021